Medical Automation Market is likely to register CAGR of 10.6% by 2033

The global medical automation market size is projected to reach an impressive US$ 44.45 billion in 2022, with a CAGR of 10.6% from 2023 to 2033.

The market growth is mainly driven by the increasing prevalence of chronic diseases such as cancer, diabetes, and others, the expanding pharmaceutical and biotechnology sector, the growing demand for robotic surgery, and the rising healthcare expenditure. However, the high cost of automation, risks associated with robotic surgery, and the need for physician training are expected to hinder the market growth. Despite these challenges, the advantages associated with automated systems, such as the automation of tedious tasks, including sampling, quality monitoring, packaging, labeling, and scanning of medicines and devices, have reduced human efforts and increased speed and accuracy, leading to increased reliance on these systems.

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Furthermore, the increasing global prevalence of chronic conditions such as diabetes, cancer, arthritis, and chronic obstructive pulmonary disease (COPD) is driving the demand for therapeutic, laboratory, and pharmacy-automated medication systems, which are faster and more productive.

Key Takeaways-

• North America dominated the healthcare automation market in 2021, accounting for the largest market share.
• The therapeutic automation sector has the greatest market share in the worldwide market and is likely to maintain its dominance during the forecast period.
• The Research Institution segment has the greatest market share in the global market based on end users.
• North America has the greatest market share (41% in the global healthcare automation industry) by region.
• Nonetheless, Asia-Pacific is expected to be the fastest-growing medical automation industry.

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Competitive Landscape-

The major players in the medical automation market are-

• Accuray, Inc.
• Tecan Group Ltd.
• Medtronic Plc.
• Swisslog Holding AG
• GE Healthcare
• Intuitive Surgical, Inc.
• Stryker Corporation
• Siemens AG
• Koninklijke Philips N.V.
• Danaher Corporation
• Zimmer Biomet

Recent Developments-

• In January 2022, the medical technology business Becton, Dickinson, and Company announced a $1.5 billion acquisition of Parata Systems. Inventory management software, the high-speed robotic process for medical automation, robotic dispensers, workflow solutions, and adherence packaging tools are all available from Parata systems. The main goal of Becton, Dickinson is to run pharmacies to help people live better lives.

• Siemens Healthineers AG will buy Varian Medical Systems, Inc. in 2021. This is a German medical device firm that allows the former to have more access to the latter’s extensive portfolio while also strengthening its position in the MedTech sector.

• Philips will acquire Capsule Technologies, Inc. in 2021. They serve hospitals and healthcare institutions with medical device integration and data technology. The goal is to strengthen Philips’ position as a leader in patient care management solutions. Capsule Technologies, Inc offers medical device information platforms that include device integration, clinical surveillance services, and vital signs monitoring. Philips’ objective is to use integrated solutions to transform the delivery of healthcare in the health area. It aids in the connectivity of nearly all medical devices as well as EMRs in hospitals.

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Key Segments Profiled in the Medical automation market Survey

By Application:

• Imaging
• therapeutic
• laboratory and pharmacy
• medical software
• Informatics
• logistics

By end use:

• Hospital and diagnostic center
• Research laboratories & institutes
• Pharmacies
• Others

About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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